Credit Analysis & Research Ltd (CARE Ratings) is a full service rating company that offers a wide range of rating and grading services across sectors. The company is recognized by Securities and Exchange Board of India (Sebi), Government of India (GoI) and Reserve Bank of India (RBI) etc. They have seven offices in India located at Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Bangalore and Ahmedabad.

Credit Analysis & Research Ltd was created and deployed in the year 1993. The company was promoted by major Banks/ FIs (financial institutions) in India. The three largest shareholders of CARE are IDBI Bank, Canara Bank and State Bank of India. The company has completed over 8488 rating assignments having aggregate value of about Rs 26609 bn (as at Sep 30, 2010), since its inception in April 1993.

The company carries out rating of the debt instruments, namely structured obligations, Commercial paper, Debentures, Fixed deposits and Bonds, covering the full spectrum of Universe comprising Industrial Companies, Service companies, Infrastructure companies, Banks, Financial Institutions (FIs), Non-Bank Finance companies (NBFCs), Public Sector Undertakings (PSUs), State Government Undertakings, Municipal Corporations, Structured Finance Transactions, Securitization Transactions, SMEs, SSI and Micro Finance Institutions.

In addition to debt ratings, the company has experience in providing specialized grading/rating services, such as Corporate Governance ratings, IPO grading, Mutual Fund Credit quality Ratings, Insurance Claims Paying Ability Ratings, Issuer Ratings, Grading of Construction entities, Grading of Maritime training institutes and LPG/ SKO Ratings.

The company's Credit Rating is an opinion on the relative ability and willingness of an issuer to make timely payments on specific debt or related obligations over the life of the instrument. CARE rates rupee denominated debt of Indian companies and Indian subsidiaries of multinational companies.

The Research and Information division of CARE delivers comprehensive solutions in contemporary research and information covering various industries and financial markets. Publications include Industry Research Reports with Updates, Debt Market Review, Budget Analysis, other policy impact analysis, and special commentaries on topical issues.

CARE Research offers both subscription based reports and also customised reports on request. The division has an created and deployed network of primary and secondary sources, which enable the analyst to form unbiased opinion on the industry segments. It has also successfully engineered different methodologies for forecasting the future demand-supply situation in a particular industry.

The company had created and deployed the Research Division in June 2006. During the financial year 2007-08, the company broadened its footprint operations into into an agreement to provide technical assistance to a rating agency in one of the Latin American countries. During the year 2008-09, the Research Division added 5 new sector reports, namely Gems & Jewellery, Shipbuilding, Retail, Construction and Coal.

During the year 2009-10, CARE Research formally introduced reports in respect of sectors such as banking, two wheelers, passenger vehicles, sugar, man-made fibres and natural gas. They successfully engineered a new product widely referred to as 'Industry Risk Scores' which gives ranking to each industry on a five-point scale on both structural and financial parameters. Also, they formally introduced CARE Online Reports Distribution System, whereby the reports can be purchased by subscribers by making online payment. The reports can be viewed online.